It's amazing how delusional they are. They talk about the next bubble as if it's guaranteed to come. It simply isn't. We've been going down for 9 months. Now we're simply at the point the smart people understand there simplu won't be another bubble anymore. They're pulling out. We will go down very fast coming few weeks.
Sometimes you feel good, sometimes you feel bad. But your sentiment does not change the revolution in technology. It is steaming on relentlessly regardless of your feeling.
Let's say that flying has just been invented. The first aeroplanes are taking passengers. Then routes are established. 1920s, 1930s see a great growth. Would you say after a regulatory setback or something that, "this flying is overrated and will become a dwindling niche". Then - I know this is not the case with flight, but it is with Bitcoin - you would decide to sell your 1/21,000,000 share(s) of everything related to aviation at a pittance. If only 100 planes existed in the world, and they are small, 210k bitcoins would buy you one plane. Sell and be happy.
Meanwhile the ones who realize what is at stake, a revolution in tech, either happening or not, would buy your shares, and wait until the real value of one share is much higher. Because you cannot uninvent it, it is actually an easy bet for a patient and shrewd investor.
This is an absurd analogy. If cryptocurrency is manned flight, Bitcoin is the Wright Brothers Flyer--revolutionary, great proof-of-concept, but not something Granny and Uncle Walt will ever think of as transportation. The Wright Brothers were a failure as businessmen (ignoring the bicycle trade), and after some bitter patent disputes and lawsuits, the Wright Brothers Aeroplane Company was sold. No fortunes were made--Howard Hughes came later.
P.S: Aren't we supposed to be around $10k/BTC according to your "research"?
Edit: JorgeStolfi beats me to it
~NotLambchop, Bitcoin MegaloNode
